A yen for horses

Jul 31, 2007 5:52 AM

Las Vegas Dissemination Company (LVDC) last week announced a historic deal to offer live simulcasting and pari-mutuel wagering on Hong Kong Jockey Club (HKJC) races.

The strategic partnership gives LVDC the exclusive right to offer full-service betting and live simulcasting of all HKJC races in U.S. gaming establishments.

LVDC officials said the deal could affect and enhance race books throughout the country. They estimated that pari-mutuel wagering on Hong Kong races could top $100 million per race day.

The deal is a "one-way betting arrangement," which allows bettors in the U.S. to wager on Hong Kong races, but does not allow LVDC to accept bets from Hong Kong on U.S. races.

The LVDC has a five-year deal with the Hong Kong Jockey Club, subject to various licensing arrangements.

The HKJC expects betting from the U.S. will stimulate slumping attendace in recent years.